Online savings bank Rabo.be leaves Belgium | Financial

The Belgian business newspaper De Tijd reports this on Friday. Three years ago, the Dutch bank in Belgium sold all its investment activities, a year later it decided to stop offering company accounts.

It has not yet been decided whether the departure will be by way of a sale or by phasing out the activities, says Rabobank.

On 9 March, the parent company ‘announced its intention to terminate the activities of its online savings bank Rabobank.be’, Rabobank Group reports.

For the time being, nothing will change for the bank’s customers in Belgium, the bank told the business newspaper.

Price fighters

Since its start in 2002, the online bank has grown into one of the largest in Belgium, but according to market analysts it lost ground to new price fighters there. Low interest rates also lowered earnings.

Rabobank follows ABN Amro with this step, which withdrew from Belgium two years ago. Initially, they were both successful price stunters with high interest rates, according to De Tijd.

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